February 2025

This month we dive into the biggest alternative investment news while our guest contributors look at various private equity trends.

January saw hedge funds start the year on solid footing with reasonable numbers. There were some sizable fund closes from Thoma Bravo, Ares, Franklin Templeton, Allianz and Insight, while Ardian announced a record-breaking secondaries fund. There were weak 2024 private equity fundraising numbers, while the secondaries markets gained momentum, and AI investment surged. We explore ESG investing, which remains viable despite political uncertainty. Innocap partnered with ADIA to provide managed account services. Apollo continued its expansion through acquisitions and Goldman launched its Capital Solutions Group. Meanwhile, hedge funds saw multi-strategy mergers, and Saba faced a PR problem.

Featured Articles: 

• Bite Investments Henry Reynolds discusses how technology enhances investor relationships.

• Capricorn Capital Partners UK's Ricardo Delgado emphasises the importance of cash returns in evaluating PE performance.

• H-Squared’s Max Heppleston explores talent and the institutionalisation of small to mid-sized funds.

• Peregrine Communications’ Josh Cole and Bill McIntosh examine the growing retailisation trend.

In Letter from America, Prosek Partners’ Mark Kollar explores DeepSeek, the Chinese low-cost AI model disrupting tech and investment markets, sparking concerns over US AI dominance and energy demand. Despite debates on DeepSeek’s impact, Jevon’s paradox suggests greater efficiency will only drive higher demand - AI’s expansion shows no signs of slowing.

We wrap up with RQC Group reviewing the latest goings in UK and US regulatory spheres.